THE ROLE OF PRODUCT CONTROL

The role of the Product Control department: Understanding and being a key department in controlling the business of the bank, taking ownership and responsibility for solving processing and valuation problems and escalating issues where appropriate. Taking ownership for guaranteeing the validity of the underlying corporate data by independently validating all trading, lending and funding transactions that flow from the Front Office and Operations into the CDA and using our P&L process as a tool to achieve this Produces independent customer valuation statements and report sales credits. Attracts, develops and retains the very best professionals within the industry Controlling discretionary expenditure and presenting a transparent service to the Front Office.

PRODUCT CONTROLS MISSION

Maintaining control focus, continue to be a key department in controlling the business of the bank, and ensure the current control environment continues to be developed. Attack the cost base, get smart and achieve productivity savings and synergies across the department, realising our investment. Delivering a cost effective transparent service to all division

THE PROCESS

1. Create Trial Balance 8. Counterparty Valuation 2. Validation

7. Reporting and Control

3. Apply EOD Adjustments and Provisions

6. Analyse and Explain P&L 4. Allocate Funding 5. FX Hedging and P&L Remittance

THE PROCESS
Create Trial Balance Product Control is responsible for validating business related balance sheet and strategic trading information for the use of other departments, primarily financial control Profit & Loss is calculated by book based on the movement in the balance sheet since the last valuation date. PC Validation Process This validation process includes Trade/Position Data; Market Data; Valuations; Model Usage; Complex Trades Apply EOD Adjustment and Provisions Creating a single common source of validated and adjusted data Allocate Funding Product Control makes a fair, accurate and transparent allocation of funding costs to trading books in accordance with policy.

REPORTING AND MEASUREMENT

Reporting and Control
Ensure all validation processes are carried out Report P&L and other information to senior management Consistent and validated source of management information

Counterparty Valuation
Distribution of Valuations to clients independent of Front Office Legal Disclaimers

Product Control is responsible for validating all corporate date for its integrity, completeness and accuracy.

ORGANISATIONAL DEVELOPMENT
Structured Staff Induction Programme Career Development Planning Management Skills Training Technical (Financial Products) Training IT Training Web Based Learning Open Learning Centre Study Support

CAREER PROSPECTS
A challenging, highly rewarding, fast-track career within Product Control Commitment to individual career development upon joining Rotations program A strong team-based ethic in an open environment of ideas and learning Immediate responsibility Global Opportunities

REQUIREMENTS?

Qualified ACAs with strong intellectual/problem-solving ability. Hard-working and driven Articulate and confident Managerial and leadership qualities Excellent team players Ability to manage change